Kevin Wack is American Banker's national editor, and is based in southern California. He was formerly the publication's consumer finance reporter and its Capitol Hill correspondent. Earlier, he worked on financial policy in Washington. He has also reported for the Associated Press and worked as the investigative reporter for the Portland Press Herald in Maine.
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In a new survey, executives at banks and credit unions registered the highest level of anxiety about a forthcoming data-collection rule in small-business lending.
By Kevin WackDecember 16 -
An administrative law judge has recommended that a trio of onetime Wells executives be ordered to pay a combined $18.5 million in connection with the bank's fake-accounts scandal.
By Kevin WackDecember 8 -
The class-action lawsuit was brought on behalf of mortgage borrowers who were allegedly placed into forbearance during the early days of the pandemic without their consent.
By Kevin WackSeptember 16 -
The state Supreme Court heard oral arguments in a lawsuit involving one of the nation's largest debt buyers. At issue is how much detail the industry must disclose about what consumers allegedly owe.
By Kevin WackAugust 31 -
Wells Fargo, U.S. Bancorp, Truist Financial and PNC Financial were among the banks that said they are raising their prime lending rates from 4.0% to 4.75%.
By Kevin WackJune 15 -
The two regional banks announced plans to abandon nonsufficient fund fees and make other moves that will reduce the revenue they collect from cash-strapped consumers.
By Jon PriorJune 13 -
The company has agreed to pay at least $3.75 million to resolve allegations that it violated the District of Columbia’s 24% interest rate cap.
By Kevin WackFebruary 8 -
The online lender was not a party to the lawsuit involving the Federal Trade Commission and a payday lender, but it could emerge as one of the big winners from the Supreme Court’s decision.
By Kevin WackMay 4 -
Surging used-car prices — brought on by a combination of strong consumer demand and limited new-vehicle supply — are boosting loan yields and profits at the Detroit company.
By Kevin WackApril 16 -
The Michigan lender agreed in 2012 to pay $133 million to resolve civil fraud charges tied to government-backed mortgages. But the deal with the Justice Department came with a catch that eventually allowed Flagstar to pay far less.
By Kevin WackApril 15